Mark Cuban officially backs Polygon

Billionaire investor Mark Cuban has thrown his weight behind Polygon, in accordance with a brand new disclosure on considered one of his web sites, providing additional proof that rich buyers are tapping into the digital asset market regardless of the latest turmoil. 

The addition of Polygon to the Mark Cuban Companies web site seems to have been made just lately and reaffirms the billionaire’s backing of the venture.

Cuban, who was as soon as a polarizing determine within the cryptocurrency market, has grow to be a extra vocal supporter of the nascent asset class over the previous yr.
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Recently, when Elon Musk determined to cease accepting Bitcoin (BTC) because of environmental issues, Cuban mentioned his Dallas Mavericks would continue to accept the digital currency as payment.

Cuban has additionally acknowledged that cryptocurrencies are beginning to reflect real demand for his or her utility, arguing that the way forward for the business stays vivid. 

“Having more TPS and lower gas fees is not enough,” he wrote, including:

“There must be a CURRENT network effect and significant user growth. This is a challenge for most L1s and L2s because [with] few exceptions, marketing in the crypto universe is beyond awful.”

His backing of Polygon is hardly stunning given the community’s speedy ascension this yr. Formerly often known as Matic, Polygon is a multi-chain scaling answer designed to make Ether-based transactions extra environment friendly. As Cointelegraph just lately reported, Polygon’s user base grew by 75,000 in just one week, highlighting rising demand for layer-2 options. The inflow of customers generated practically $1 billion in volumes.

When requested about what made Polygon stand out versus different second layer scaling options, Cuban instructed Cointelegraph that he was “an active user,” including:

“It is fast, it works well and most importantly their user base is growing exponentially.”

In phrases of what Mark Cuban Companies brings to Polygon, the billionaire investor mentioned:

“I can give them feedback on marketing and we are in the process of integrating polygon into which we think will be very beneficial to creating a platform to extend NFTs and personal galleries.”

Sandeep Nailwal, Polygon’s chief operations officer, described his conversations with Cuban as “truly mind blowing,” including:

“It was so spectacular to know that the nuances of the industry, the tech and adoption we had figured out after months of grind, he was already thinking about those and had those questions in mind.”